UNADJUSTOD TRIAL BALANCE, ADJUSTING PNTRIOS, ADJUSTPD TRIAL BALANCE, FNANCIAL STATBMIDNTS, CLOSING DNTRIES, POST$-$CLOSING TRIAL BALANCD

Prepare the Unadjusted Trial Balance. Make the Adjusting Entries and update ledger accounts. Prepare the Adjusted Trial Balance.

Adjusting Entry information:

Depreciation: the company will depreciate assets straight$-$line for $6$ years, with NO residual $($ie$,$ salvage or trade$-$in$)$ value. Remember to take into consideration the timing of when the assets were received and adjust for part$-$year, and part$-$month. Round to the nearest whole dollar.

Took a count of office supplies; the office supplies on hand at $\frac{12}{31}$ were $$160.$

Look at the Unadjusted trial balance. What other accounts need to be adjusted because of the passage of time, or accruals recorded? $($Hint: $4$ joumal entries are needed.$)$

From the Adjusted Trial Balance, prepare the first three Financial Statements $($Multi$-$step Income Statement, Statement of Retained Eamings, Classified Balance Sheet$).$ Next, prepare the closing joumal entries. Finally, update the Ledgers and prepare the Post$-$Closing Trial Balance.

Everything that you need for this final part of the project is in chapter $3.$